House Democrats on Fiscal Cliff Negotiations

House Minority Leader Nancy Pelosi and other Democratic leaders spoke to reporters about negotiations between Congress and President Obama…
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House Minority Leader Nancy Pelosi and other Democratic leaders spoke to reporters about negotiations between Congress and President Obama on avoiding the “fiscal cliff.”

“Fiscal cliff” referred to the impending tax increases and sequestration budget cuts at the end of 2012 if Congress failed to reach a new budget agreement.*"Sequestration," a legal procedure in which automatic budget cuts are triggered, was agreed to in the Budget Control Act of 2011. close

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*The transcript for this program was compiled from uncorrected Closed Captioning.